Meta Platforms (NASDAQ:META) Trading Up 0.3%

Meta Platforms, Inc. (NASDAQ:METAGet Free Report) shares were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $476.90 and last traded at $473.28. Approximately 3,284,039 shares traded hands during trading, a decline of 82% from the average daily volume of 17,768,637 shares. The stock had previously closed at $471.85.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wolfe Research lowered their price target on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. BMO Capital Markets increased their price objective on Meta Platforms from $397.00 to $450.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Bank of America lifted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Mizuho upped their target price on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.80.

Read Our Latest Report on Meta Platforms

Meta Platforms Price Performance

The company has a market capitalization of $1.20 trillion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The stock’s 50 day simple moving average is $486.26 and its 200-day simple moving average is $419.79.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.1 earnings per share for the current fiscal year.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Nicholas Clegg sold 1,135 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total value of $535,549.75. Following the transaction, the insider now owns 8,753 shares of the company’s stock, valued at $4,130,103.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the sale, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,015,222 shares of company stock worth $499,279,869. Company insiders own 13.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Donoghue Forlines LLC lifted its position in shares of Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after buying an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Meta Platforms by 400.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after purchasing an additional 2,000 shares during the last quarter. Bank of Stockton increased its position in shares of Meta Platforms by 9.2% during the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock worth $1,819,000 after purchasing an additional 400 shares in the last quarter. Finally, Signify Wealth purchased a new stake in shares of Meta Platforms in the 4th quarter valued at about $228,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

About Meta Platforms

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Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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